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UJJWAL SONTAKKE (LAW OFFICER)     16 December 2014

Settlement of claim in respect of fdr

There is deposit in the name of my mother. I am a nominee in this account. Mother died and i had applied and requested for transfer the deposit in my name to the  bank. In the mean time my brother also intimated the Bank that he is one of the legal heir of deceased mother along with me and my another brother. Bank is not settled the claim in my favour. what bank can do in this situation.

Please answer on :- ujjwal@lawyer.com 



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 1 Replies

Kumar Doab (FIN)     16 December 2014

Refer to RBI GUIDELINES vide : MASTER CIRCULAR ON CUSTOMER SERVICES :Deceased Depositoheirsount with nomination:Sec20 that should be maintained by bank on its,website and in beach and a printed version should be supplied along with Bank's policy (framed as per guidelines of RBI) .... It is felt that until or unless there's a order by court of law the BM of the Bank should have issued the cheque of payment within..... as per policy say the same day..... Hope you have obtained acknowledgement on the copies of claim with date and bank seal..... The nominee is just a trustee hence has to distribute the proceeds to legal heir/successors..... Therefore you and brother can also give in writing to distribute equally to all legal geirs

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